Walmart lays off store managers to cut costs

Walmart is facing rising costs after a commitment to raise wages and amid an e-commerce revamp that is shrinking its margins, but so far isn’t shrinking its physical footprint all that much. Early last month the company announced plans to increase the starting wage for all hourly employees in the U.S. to $11, including at Walmart stores, Sam’s Clubs, e-commerce operations, logistics and the company’s headquarters.